Abengoa Signs 1.4 Billion-Euro Syndicated Loan to Refinance Debt

Oct. 1 (Bloomberg) — Abengoa SA, a Spanish energy, water
and environment company, signed a 1.4 billion-euro ($1.77
billion) syndicated loan to refinance debt.

The two-tranche revolving credit facility, which was
oversubscribed by 140 percent, involved a group of 20 lenders,
Abengoa said today in a statement. Nine banks including Banco
Santander SA and HSBC Holdings Plc led the transaction, it said.

The deal extends the maturity of the Seville, Spain-based
company’s debt by more than four years while reducing financing
costs, covering its corporate needs until 2016. Tranche A repays
its existing syndicated loan and tranche B will finance the
development and construction of concession projects.

Abengoa is the biggest developer of solar-thermal power
plants and is building the El Zapotillo aqueduct in Mexico, one
of the world’s largest water projects. Its projects include
renewable energy, power transmission and waste-to-energy plants.
Its $721 million yieldco was listed in the U.S. in June.

To contact the reporter on this story:
Marc Roca in London at
mroca6@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Randall Hackley

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